GST (Goods and Service Tax) is a one tax regime impelled by Government to promote a unitary basis of transacting business in India. It enables every assessee to self-assess his tax liability & file timely returns to government without any major intervention of any tax official. As the regime majorly stresses on self-assessment procedures, it puts up a need for a rigorous audit mechanism, which will ensure effective measurement and compliance of all the legal associated provisions by every taxpayer. Some of the key aspects to be considered by companies are as follows: Reconciliations: Ensure reconciliations of output tax/input tax between the books of accounts, returns and e-waybills issued (output side)/tax discharged by the vendors (input side). Tax positions: Review the tax positions adopted by the company and whether these are correctly reflected in documentation. Credits: Review if any ineligible credits have been availed (including review of credits availed) and in the process also ensure completeness of credits. Applicability of other provisions like free of cost services/goods, valuation, and cross-charges between related persons/distinct persons.